- In the previous 24 hours, SafeMoon price consolidated sideways in the 0.00005300-0.00005600 range.
- Litecoin still fails to break above the 75.00 level.
SafeMoon Chart Analysis
In the previous 24 hours, SafeMoon price consolidated sideways in the 0.00005300-0.00005600 range. Today we continue at the same pace and move without major oscillations. On a positive note, we are still above the EMA50 moving average and we expect to see a continuation to the bullish side. To start, we need to break above the 0.00005600 level and try to stay there. If we achieve this, we will have a good losing position to start a greater recovery.
The highest potential targets are the 0.00005700 and 0.00005800 levels. For a bearish option, we need a pullback to the level of 0.00005200. Therefore, we would break out of the previous consolidation and retrace below the EMA50 moving average. This would confirm the bearish momentum and continuation of the SafeMoon price pullback. Possible lower targets are the 0.00005100 and 0.00005000 levels.
Litecoin Chart Analysis
Litecoin still fails to break above the 75.00 level. Yesterday's attempt stopped at 74.90, after which we started a pullback towards the 72.00 level. This morning we saw a new bullish consolidation, but this time we stopped at the 74.50 level and pulled back again at the 72.00 level. We have additional support in this area at the EMA50 moving average.
A break below would increase uncertainty about the recovery and we would see a continuation of the pullback to the next support. The lowest possible targets are the 71.50 and 71.00 levels. We need a positive consolidation and a return in the area around 74.50 for a bullish option. So, we would have to hold there if we plan to retest the 75.00 level and break above. The highest potential targets are the 75.50 and 76.00 levels.
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